The Finance Ministry is targeting Rp 15 trillion ($1.55 billion) from issuing rupiah-denominated Islamic bonds, or sukuk, to Indonesian citizens as part of the country’s effort to plug the budget deficit amid a deepening domestic financial market.
The Shariah compliant debt notes, the fifth issue of its kind, are intended to woo retail investors in the world’s largest Muslim-majority population to participate in financing government projects. Dahlan Siamat, director of Islamic financing at the Finance Ministry’s debt management office, said that the sukuk would use government infrastructure projects such as toll roads and bridges as the underlying assets...............................................Full Article: Source